Insider Selling: Griffon (NYSE:GFF) COO Sells 3,272 Shares of Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 3,272 shares of Griffon stock in a transaction on Monday, June 15th. The stock was sold at an average price of $95.40, for a total value of $312,148.80. Following the transaction, the chief operating officer directly owned 806,516 shares of the company’s stock, valued at approximately $76,941,626.40. This represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Price Performance

GFF stock traded down $0.56 during midday trading on Tuesday, hitting $94.17. 327,681 shares of the stock were exchanged, compared to its average volume of 344,229. The stock’s 50-day moving average price is $86.11 and its 200-day moving average price is $81.71. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 724.46 and a beta of 1.42. Griffon Corporation has a fifty-two week low of $65.01 and a fifty-two week high of $97.58. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86.

Griffon (NYSE:GFF) last issued its quarterly earnings data on Thursday, May 7th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.06. The firm had revenue of $421.86 million during the quarter, compared to analysts’ expectations of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.Griffon’s revenue was down 31.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 earnings per share. Research analysts predict that Griffon Corporation will post 5.17 earnings per share for the current year.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 29th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.88 annualized dividend and a yield of 0.9%. Griffon’s payout ratio is currently 676.92%.

Wall Street Analysts Forecast Growth

GFF has been the subject of several analyst reports. Weiss Ratings lowered Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Robert W. Baird set a $115.00 target price on Griffon in a research note on Friday, May 8th. Finally, Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $115.00.

Institutional Trading of Griffon

Institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. raised its stake in Griffon by 149.6% during the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after buying an additional 211 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Griffon during the 1st quarter worth approximately $29,000. Huntington National Bank increased its position in Griffon by 645.0% in the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 387 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in Griffon in the 4th quarter valued at approximately $34,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Griffon by 362.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock valued at $36,000 after acquiring an additional 388 shares during the period. Institutional investors and hedge funds own 73.22% of the company’s stock.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.